The government is set to reveal its regulatory package for crypto in the coming weeks.
The landmark Markets in Crypto Assets legislative framework will now be discussed between the European Parliament, Council and Commission.
European officials will vote on rules restricting anonymous crypto transactions later this week.
The EU's landmark legislative package for governing crypto assets is moving on to the next stage of negotiations without the divisive provision seeking to restrict the use of proof-of-work crypto.
Lawmakers will make a final call on banning Bitcoin-style validation and consider how to treat decentralized finance.
EU parliamentarians that supported the controversial provision seeking to limit proof-of-work crypto could make one last stand if the MiCA draft goes for a full parliamentary vote.
The symbolism of U.S. President Joe Biden signing last week’s directive may have more of an impact than the practical effects.
The proposed MiCA framework was voted through without a contentious provision seeking to limit the use of proof-of-work crypto.
The cryptocurrency was little changed Monday and is up 2% over the past week.
Draft regulation also requires businesses offering crypto services in the EU to have a base in the bloc, Cinco Dias reports.